California – Los Angeles Times Article on Tax Reform

SALT Report 3351 – The LA Times Article addresses implications of the recent tax rate changes post Prop 30

“At last count, the Brown administration expected to collect about $7 billion this fiscal year from Prop. 30 — $5.6 billion by soaking the rich and $1.4 billion from a quarter-cent sales tax hike.”

“And we’d lower the state sales tax rate — also the nation’s highest — while spreading the tax to services, such as car repair labor, legal fees and Clippers tickets. People who fret about the regressive nature of the sales tax should remember that the rich rely more on services than the rest of us. So they’d be the hardest hit.”

For Further Information:

Los Angeles Times “Broaden the tax base to ease disproportionate dependence on the rich” by George Skelton May 4, 2014